account takeover fraud prevention

ACCOUNT TAKEOVER FRAUD PREVENTION FOR LENDERS

The defi Team defi INSIGHT, Fraud

In an account takeover, an individual or well-organized cartel obtains access to a consumer’s account, changes login credentials or personal data, then makes unauthorized transactions using that account. Unauthorized purchases, transfers of funds, and cancellation of payments can quickly lead to financial ruin for the consumer and reputational damage for the business that failed to prevent it.

loan stacking

HOW LENDERS CAN PREVENT LOAN STACKING

The defi Team defi INSIGHT, Fraud

Loan applications are often sent to multiple lenders simultaneously. The action is called loan stacking, and it can help address a legitimate need for quick funding, or to perpetrate a scam that brings quick funding with no intent of complete repayment.

phantom auto loans

PHANTOM AUTO LOANS HAUNTING YOU? MIGHT BE YOUR SOFTWARE

The defi Team defi INSIGHT, Fraud

Phantom auto loans are a sophisticated scheme to defraud banks, credit unions, and fincos. No car is ever sold. Often, no actual dealership is involved. Fraudsters have cooperated to fabricate seemingly legitimate auto loans that have already robbed lenders of many millions of dollars.

banking fraud detection software

LOAN DOWN PAYMENT FRAUD DETECTION

The defi Team defi INSIGHT, Fraud

Down Payment Fraud Detection Key Points:

1) Loan fraud is on the rise with false identities as a leading scheme
2) Substantial down payments help disguise a fraudulent loan application
3) Lenders need to employ fraud analytics to identify and decline fraudulent loan applications

phantom auto loans

AUTO FINANCE INDUSTRY TRENDS 2020

The defi Team defi INSIGHT, Thought Leadership

Today’s lending market looks very different than it did even just a handful of years ago. More customers are checking auto prices and lending rates online to find the financing companies that offer the best deals. The result: An ultra-transparent and aggressively competitive market.